This article is a comprehensive guide on how to apply for an IPO in Zerodha. But, before you submit your IPO application on Zerodha, Ensure you have BHIM App linked to your account number. For this, the procedure is mentioned step-by-step below.
- First of all, you need to install any supported UPI applications like BHIM on your smartphone.
- Create your ID there and link it with your account. You can follow the step by step guide on how to create an ID on the UPI application before applying for an IPO in Zerodha.
- When you install the BHIM UPI application, it will ask you for some of the permissions that you have to grant it. So, click on the “allow” button to grant the required permission.
- Then, select your desired language in which you want to use the services.
- Select your sim if using dual sim.
- After selecting sim, it will ask to grant permission to send an SMS required for verification. You have to click on the allow button.
- The app will send an OTP to the registered mobile number. You have to enter the received OTP in the application. If not received, wait for 45 seconds to a minute and click on resend OTP.
- Then, you have to select a password of 4 digits. Choose any random four digits and set the passcode. And confirm the passcode.
- Once the verification process is completed, it will redirect you to the page where it will ask you to link the bank account.
- But, in case the verification is not completed, it will prompt you to dial the USSD code. USSD allows the customers to enjoy a mobile banking facility or other multiple functionalities without having a data connection to their smartphone. It starts with ‘*’ or ‘#’.
- As you dial the USSD code, then NPCI will verify your registered mobile number and the smartphone. Then, the UPI registration will be completed successfully.
- And once the UPI registration is done, you will have to link your bank account with this UPI application.
Now, It is important to link the bank account number with the let’s see the step by step process on
How you can link your account number with the UPI application.
- You will have to open the UPI application.
- Go to the homepage
- Select bank account option and then,
- Click on Add account.
- You will get the list of all the banks. Select your bank name and click on the Next button.
- It will automatically sync your bank account. If not, then check whether you have chosen the right sim. Or the registered mobile number should be in slot ‘1’ and restart the process of linking bank accounts.
- If it is synced, it will show your bank name and last digit account number.
- At this point, you will also send an SMS on your registered mobile number that you have initiated the process of adding a bank account with the UPI application.
- In the next few seconds, your account will be linked, and it will redirect to the next page where you can see the option of ‘Send’, ‘Request’ & ‘Scan and pay.’
- After the successful registration, your default UPI id will be generated like youremailid@ybl, mobilenumber@upi or a similar kind of format that you can check any time by following the process mentioned below.
- Open the UPI application
- Click on the profile option. Usually, a round icon at the top left-hand side of the application is there.
- Here you will see your name and mobile number. Scroll down a bit
- Here you will get an option of UPI IDs under the payment setting.
- Click on it to see the UPI ID that you can share with anyone to receive money.
On successful registration, a default ID, i.e. mobilenumber@upi, will be created. You can add one more Virtual Payment Address (VPA) by going to the profile section.
Congratulations, you can enjoy the service like sending money by clicking on send. You can request someone to pay you some amount by clicking on Request, and you might have seen the different bar codes on various shops. You can scan and pay them too. However, you will get options on your home screen too.
How to apply for IPO in Zerodha
Now see the exact process to apply for IPO in Zerodha and follow them step-by-step for the successful application process.
- Log in to the Zerodha account by entering the credentials like ID and passwords.
- Navigate to the Console and choose Portfolio followed by ‘IPO’
- Tap on “BID” option by choosing your desired IPO.
- A popup will appear where you will need to provide the UPI ID that you created. (It may ask you for verification)
Remember, they will not be able to check your account details attached with the UPI ID. so, it’s your responsibility to ensure that you have linked your account number with the UPI ID you have provided. If you are following the steps mentioned in this article, you need not worry. As you already have linked your account with the UPI application successfully. If you have not linked UPI ID with your bank account, the application will be rejected.
- Select “Investor type” and choose “Individual Investor.”
- Fill quantity. Remember, when you place bids, you are only authorized to select the quantity, which is multiple of lot size. But, if you wish to apply to get this IPO (Initial public offerings) at the cut off price, Tick the check box beside.
- You can also enter the diffferent price, if your wish (in rectangular box).
- Accept the terms and conditions and click Submit button.
- now, you will recieve a notification on your UPI app. just need to open it. Go to the IPO section.
- Choose ‘Pending and then click on Proceed to make payment (usually takes 4-6 hours).
Remember, if placing bid for the first time
- Console modifies your bid application from 10 AM – 4:30 PM. You will be able to trash your application in between 12 PM – 4:30 PM.
- However, the mandate can’t be cancelled in UPI application if bid application is either deleted or you have revoked your mandate propsal from bank.
- Accept new madate propsal if you want changes in bid.
- You can verify bids your details at NSE after one day of placing application.
- If you didn’t get IPO allotment, you get your money refund money.
- Zerodha does not charge any application fee.
- You only pay tax and a penny charge on Demat debit transaction.
For the bid details verification, you can visit the exchange’s website the next day after submitting an application. I hope you like the IPO placement application on Zerodha which is very easier. Thanks for being with AvinashBharat.